Banking in Asia

Banking in Asia has benefited from an increased flow of capital from the west to east. Healy Consultants’ professional, straight-forward approach assists clients to manage their banking requirements efficiently. The following are some key points for investors to consider regarding banking in Asia:

Banking in Asia is supported by confidentiality guidelines. Banks do not allow disclosure of customer banking information with fellow Organisation for Economic Cooperation and Development (OECD) members upon request, without instruction from the legal authority.

The increased activities from certain governments to put pressure on tax evasion practices has meant more jurisidictions are implementing OECD guidelines regarding tax related information. Clear evidence of illegal activity is required before disclosure of any information.

Investors are attracted by the security and quality reputation of key jurisdictions for banking in Asia.  In the 2010 Corruption Perceptions Index by Transparency International, Singapore is ranked as the world's least corrupt country, while Hong Kong is thirteenth.

Hong Kong and Singapore are the financial hubs of Asia.  Banking in Singapore and banking in Hong Kong benefit from strong reputations as efficient regional, and global, headquarters of many MNC’s.

Furthermore, as support for the benefits that banking in Asia’s financial hubs provide, Hong Kong and Singapore are ranked the world's two freest economies in the Heritage Organisation's 2011 Index of Economic Freedom.  The annual survey measures elements including freedom enjoyed in business, trade, monetary, financial, investment and labour markets.

Banking in Asia is governed by certain regulatory procedures. Healy Consultants assists clients efficiently execute the  required procedures for banking in Asia.

To support applications for banking in Asia, Healy Consultants will prepare a detailed business plan to highlight the activities and financial projections of the individual, or company, and also to summarise reasons why they require a Singapore bank account.

For more information on banking in Asia, contact email@healyconsultants.com or telephone us (+65) 6735 0120.

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